Simpson Thacher represented the underwriters, led by BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC and Truist Securities, Inc., in connection with the registered notes offering by Waste Connections, Inc. (“Waste Connections”) of $750 million aggregate principal amount of 5.0% Senior Notes due 2034, which closed on February 21, 2024. Waste Connections intends to use the net proceeds to repay a portion of the borrowings outstanding under its revolving credit facility and a portion of the term loan outstanding under its term credit facility.
Waste Connections is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, including by rail, along with resource recovery primarily through recycling and renewable fuels generation. The Company serves approximately nine million residential, commercial and industrial customers in mostly exclusive and secondary markets across 44 states in the U.S. and six provinces in Canada. Waste Connections also provides non-hazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S. and Canada, as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. Waste Connections views its Environmental, Social and Governance ("ESG") efforts as integral to its business, with initiatives consistent with its objective of long-term value creation and focused on reducing emissions, increasing resource recovery of both recyclable commodities and clean energy fuels, reducing reliance on off-site disposal for landfill leachate, further improving safety and enhancing employee engagement.
The Simpson Thacher team included Roxane Reardon, Melissa Lewis and Emily Anne Owen (Capital Markets); Jonathan Cantor and Sean Largey (Tax); Larry Moss and Meredith Brenton (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Rachelle Broida (Intellectual Property); and Jennie Getsin (FINRA).